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June 29, 2009

Financial services firms use unsecured email

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by David Masters

Nearly nine in ten financial services providers do not secure their email communications, new research has discovered.

A poll by Origo, the standards body for eCommerce in the UK financial services industry, found that 87% of financial services firms do not use a secure email system.

Despite this, 94% said they use email to send personal, sensitive, or confidential data.

Over half (58%) said they are waiting for an industry-wide standard to be implemented, while 90% said they would put secure email systems in place if offered them.

Paul Pettitt, Managing Director of Origo, said: “We believe that there’s a growing need for secure email services that can offer advanced encryption capabilities to secure sensitive data.”

Origo surveyed 31 of the largest financial services distributor groups in the UK.

The survey was timed to coincide with the launch of Origo’s Unipass Securemail secure email service, developed using security technology from Trend Micro.

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  1. I would be interested to know how often emails are actually sniffed, and how often unsecured logins ( ex email login via outlook express ) are sniffed. My guess is that it happens so rarely that it is something one should not worry about.

    Comment by John — April 17, 2010 @ 2:24 pm

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